Click to edit Master title style FY18 Results Pre resentation CONTACT Tony Best Chairman AB Dynamics PLC Middleton Drive James Routh Chief Executive Officer Bradford on Avon Wiltshire Rob Hart Chief Financial Officer BA15 1GB England Email: info@abdynamics.com Mat Hubbard Chief Operating Officer ABD Synchro – APPLICATION EXAMPLE – AE61001 Tel: +44 (0)1225 860 200
CEO Appointment – Dr James Routh Click to edit Master title style Proven track record of growing international, ▪ engineering based businesses in a FTSE 250 environment Broad-based experience across a range of sectors ▪ including aerospace, defence and industrials Chartered Mechanical Engineer and PhD in ▪ Engineering Wide experience of acquisitions and operation of ▪ international companies Particular strengths in R&D, product development, ▪ operational improvement and commercial development Anthony Best returns to role of Non-Executive Chairman 1 ABD Synchro – APPLICATION EXAMPLE – AE61001
2018 FY Highlights Click to edit Master title style Fin Financial high ighlights ts Revenues increased 51% to £37.05m (FY17: £24.57m) • Reported profit before tax increased 78% to £7.95m (FY17: £4.47m) • Profit before tax, excluding share option costs, increased 45% to £8.61m (FY17: £5.94m) • Cash flow from operations increased by £7.8m to £9.9m (FY17: £2.1m) • Basic EPS increased 74% to 36.29p (FY17: 20.83p), Diluted EPS increased 70% to 35.03p (FY17: 20.56p) • Proposed final dividend increased 10% to 2.20p per ordinary share (FY17: 2.00p) • Strong balance sheet with net cash of £15.94m as at 31 August 2018 (31 August 2017: £9.62m) • Ope perati tional high ighlights ts James Routh appointed as CEO, with effect from 1 October 2018 • AB Dynamics Europe GmbH facility established and operational • Received first order for Advanced Driving Simulator (aVDS) to be delivered in Q1 FY19 • First orders received for new LaunchPad ADAS target platform • Demand for track testing products continues at an all-time high • Strong forward order book, providing visibility into Q3 FY19 • 2 ABD Synchro – APPLICATION EXAMPLE – AE61001
The Business Click to edit Master title style AB Dynamics design, manufacture and supply advanced products to the global automotive industry, mainly for vehicle ride, handling and safety system development and testing. Founded in 1982 by Anthony Best ▪ Listed on London based AIM stock market in May 2013 ▪ Continuous record of steady, organic and sustainable growth ▪ Over 95% of sales non-UK ▪ Strong focus on producing high end/high quality products ▪ Customer base includes all major automotive OEM’s, Tier 1’s, and service ▪ providers “We help our customers design vehicles with improved safety systems and vehicle driving dynamics” 3 ABD Synchro – APPLICATION EXAMPLE – AE61001
Business Areas Click to edit Master title style AB Dynamics products are split into two business areas: • Tr Track Te Testin ing (Dr (Driving Rob obots an and AD ADAS tes testin ing pla platfo forms) Products predominantly used on a test track for vehicle development in the areas of: • Steering, braking, ride, and handling • ADAS system development Patented SR60 Torus steering robot • Autonomous vehicle development • Lab Laboratory Te Testin ing • Quantitative vehicle suspension characterisation (SPMM 5000) • Driver-in-the-loop driving simulators for testing of virtual vehicles (aVDS) • End of Line powertrain data capture and analysis software (PLATO) SPMM5000 4 ABD Synchro – APPLICATION EXAMPLE – AE61001
Market Growth Drivers Click to edit Master title style Global spending on automotive R&D continues to grow ▪ New entrants to the automotive and mobility sectors need to acquire ▪ testing capability Development of new increasingly complex ADAS and semi-autonomous ▪ vehicle technology demands new testing technology “ It’s frightening to see how many seemingly avoidable situations result Vehicle that can be controlled by ABD electronics without physical actuators in a collision or close near miss when these vehicles are running using active cruise control. The GST allows these tests to be conducted efficiently and safely.” (Andrew Pick, ABD Director, Oct` 2018) Full vehicle autonomy is proving to be more difficult than some industry ▪ experts suggest. More testing and new testing methodologies will be required Additional desire to accelerate new vehicle development with greater ▪ dependency on virtual testing and simulation to complement physical testing ABD’s Flex -0 vehicle controller 5 ABD Synchro – APPLICATION EXAMPLE – AE61001
Click to edit Master title style Video – Guided Soft Target (GST) 6 ABD Synchro – APPLICATION EXAMPLE – AE61001
Video – Flex 0 Click to edit Master title style 7 ABD Synchro – APPLICATION EXAMPLE – AE61001
Click to edit Master title style Video – aVDS, Motorway Scenario 8 ABD Synchro – APPLICATION EXAMPLE – AE61001
Click to edit Master title style Growth Drivers – EuroNCAP Active Safety European New Car Assessment Programme (EuroNCAP) is a member body that rates consumer vehicle safety and guides testing standards 2018 2020 2024+ 2022 (vehicle to vehicle) V2V features being tested: V2V features being tested: V2V features being tested: Autonomous Emergency Braking Junction Assist (vehicle to everything) Junction Assist (AEB) (turn across path) (turn across path and crossing) Autonomous Emergency Braking Lane Support Systems Autonomous Emergency Braking Autonomous Emergency Steering V2X features being tested: Autonomous Emergency Steering (driver initiated steering) (vehicle initiated steering) Lane Support Systems Scenario interactions with many AEB & AES Head-on (Vulnerable Road User) other objects. VRU features being tested: “Swarm testing” on both track VRU features being tested: VRU features being tested: and in the virtual world during Autonomous Emergency Braking Autonomous Emergency Braking development. Lane Support Systems (Pedestrians and Cyclists) Autonomous Emergency Steering Powered two wheel vehicle (PTW) (Vehicle turn at crossing) Overtaking and oncoming AEB reversing vehicle over ped. AEB Junction assist (PTW) AEB higher speed cyclists ……future testing will require more driving robots, ADAS platforms and drive -by-wire vehicle control 9 ABD Synchro – APPLICATION EXAMPLE – AE61001
Investment for Growth Click to edit Master title style People ▪ ABD currently has over 160 employees ▪ We recruit high calibre individuals. Financially incentivised with profit related ▪ bonus scheme and share options 8 apprentices currently undertaking “day release” educational activities to ▪ ensure we have technicians with suitable skills for future growth UK Facilities ▪ Motivated staff Added space at our Holt site to increase ADAS platform manufacturing ▪ capability. (Doubling production from January 2019) Reached planning stage for development of another 3,000m 2 facility ▪ adjacent to new headquarters (see following slide) An apprentice at work testing driving robots 10 10 ABD Synchro – APPLICATION EXAMPLE – AE61001
AB Dynamics “North Site” Development Click to edit Master title style 2018 Headquarters, Middleton Drive 2020 “North Site” development 3000m 2 100 parking spaces Designed for future flexibility Planning application submitted 11 11 ABD Synchro – APPLICATION EXAMPLE – AE61001
Investment for Growth Click to edit Master title style Overseas ABD facilities ▪ Pr Prov ovision of of hig high qual uality, low low late latency sup support ▪ coup co upled wi with th loc local kno knowledge is is es essential for for fu futu ture gro rowth as vehicle testing becomes Russia more complicated Germany Italy Japan Turkey USA S Korea Started AB AB Dynamics GmbH operations in ▪ China Taiwan Mexico India Germany (see following slide). Planning transition of staff from existing Munich Malaysia based representative into the ABD entity Starting to move forwards with AB AB ▪ Dynamics Inc in 2019. Future manager of AB Brazil Dynamics Inc has been recruited, and Australia process will be supported by existing representative Investigating provision of direct support ▪ operations in Asi sia to complement/assist existing representatives 12 12 ABD Synchro – APPLICATION EXAMPLE – AE61001
AB Dynamics Europe GmbH Click to edit Master title style Located in Wetzlar • Wor orkshop: 50 500m 2 45 minute drive north of Frankfurt • Offi fice: 46 467m 2 New build, leased • Driving simulator assembly and • demo facility Track test support facility • Potential conduit for sales into • Europe post March 2019 External view (September 2018) Conference room (September 2018) 13 13 ABD Synchro – APPLICATION EXAMPLE – AE61001
Long Term Customer Relationships Click to edit Master title style Exa xample Euro uropean OEM OEM Cus Customer 2002 2004 2006 2008 2010 2012 2014 2016 2018 Dri riving Rob Robot Dri riverless Sys yste tem Guided So Soft Target (GST ST) Dri rive by y Wire / Fl Flex ex-0 We e have ave lon long ter term rel relationships with with cu customers, an and evo evolve ou our products as pro as the the req require irements of of cu customers ch chan ange 14 14 ABD Synchro – APPLICATION EXAMPLE – AE61001
Recommend
More recommend
